Vietnam's rice exports expected to set new record in 2024

Published 2024년 8월 18일

Tridge summary

Vietnam's rice exports are on track to hit a record 5 billion USD in 2024, with a significant increase in both volume and average export price compared to the previous year. The country exported over 5.1 million tons of rice in the first 7 months of 2024, generating 3.2 billion USD in revenue. The average export price of rice reached a record 636 USD/ton, with some markets paying over 800 USD/ton. Opportunities for growth are further boosted by a global rice shortage and decreased output in major markets due to El Nino and climate change. Vietnam is actively expanding into new markets and plans to form a National Rice Council to enhance export value.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Experts predict that Vietnam's rice exports could reach the 5 billion USD mark by the end of this year, setting a new record. According to the Ministry of Agriculture and Rural Development (MARD), in the first 7 months of 2024, Vietnam exported over 5.1 million tons of rice, reaching a turnover of 3.2 billion USD, up 25% in volume and 5.8% in value compared to the same period in 2023. Notably, the average export price of rice in the first 7 months of this year increased sharply, higher than last year. In the first 7 months of 2024, Vietnam exported over 5.1 million tons of rice, with a turnover of 3.2 billion USD, up 25% in volume and 5.8% in value compared to the same period in 2023. Photo: KTĐT The Vietnam Food Association (VFA) said that the average rice export price over the past 6 months reached a record level of 636 USD/ton, up 18% compared to the same period in 2023. Some typical markets such as Brunei, the US, the Netherlands and Ukraine all recorded Vietnamese rice ...

Source: Voh